Investments in defence companies

Disclosure date: 6 October 2011

Reference: FOI2011/079

Request

1. Please provide me with a full break down of the University's investments in arms manufacturing and defence companies in the past 5 years. Please provide me with data year by year, and the amount invested in each company and the return on the investment if you can provide it.

2. Please provide me with any correspondence received in relation to the investment and any documents relating to the justification for the investment.

3. Please provide me with a copy of the university's policy on investments.

Response

1. The School held 1755 shares in L3 Communications Inc between 4th December 2008 and 7th December 2009. The L3 Communications shares were purchased at the cost of £81,381.32 and sold with proceeds of £86,516.90, making a profit of £5,135.58. Over the period held L3 Communications paid dividends of £1,319.16.